MetaFilter posts tagged with berkshirehathawayhttp://www.metafilter.com/tags/berkshirehathaway
Posts tagged with 'berkshirehathaway' at MetaFilter.Sat, 02 Mar 2013 06:25:02 -0800Sat, 02 Mar 2013 06:25:02 -0800en-ushttp://blogs.law.harvard.edu/tech/rss60The Psychology of Human Misjudgement, 1995 talk by Charlie Mungerhttp://www.metafilter.com/125555/The%2DPsychology%2Dof%2DHuman%2DMisjudgement%2D1995%2Dtalk%2Dby%2DCharlie%2DMunger
<a href="http://en.wikipedia.org/wiki/Charlie_Munger">Charlie Munger</a> (<a href="http://www.metafilter.com/89679/Be-it-resolved-that-financial-innovation-does-not-boost-economic-growth">prev</a>) gave an oft referenced talk at Harvard in 1995. <a href="http://www.youtube.com/watch?v=pqzcCfUglws">Here's the full audio.</a> Munger titled the speech "Twenty Four Standard Causes of Human Misjudgement".
Warren Buffett calls Charlie Munger his partner. Even before he was Vice Chairman at Berkshire Hathaway, he was <a href="http://en.wikipedia.org/wiki/Wesco_Financial_Corporation">known as a canny investor</a>. Mr. Munger speaks about the framework for decision making, the factors contributing to misjudgements and behavioral economics in a folksy downhome way.
A collection of Munger's speeches was collected by Peter D. Kaufman as <a href="http://en.wikipedia.org/wiki/Poor_Charlie%27s_Almanack:_The_Wit_and_Wisdom_of_Charles_T._Munger">Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger</a>. Although they are longtime friends and partners, Munger is hardly a carbon copy of Buffett: Munger is known to be a Republican, whereas Buffett has generally supported Democrats.
Quote:Warren has always been very open about what he’s learned, and I share that ethos. My personal behavior model is Lord Keynes: I wanted to get rich so I could be independent, and so I could do other things like give talks on the intersection of psychology and economics. I didn’t want to turn it into a total obsession.
<a href="http://www.rbcpa.com/Mungerspeech_june_95.pdf">Speech in pdf</a>
Munger references <a href="http://www.amazon.com/exec/obidos/ASIN/006124189X/metafilter-20/ref=nosim/">Influence: The Psychology of Persuasion</a> by R.Cialdini tag:metafilter.com,2013:site.125555Sat, 02 Mar 2013 06:25:02 -0800readeryEven Buffett Makes Mistakes (apparently)http://www.metafilter.com/79596/Even%2DBuffett%2DMakes%2DMistakes%2Dapparently
Warren Buffett recently released his annual letter to investers (for <a href="http://www.berkshirehathaway.com/letters/2008ltr.pdf">2008</a>). After only the second down year ever for Berkshire Hathaway's share price (since Buffett took over - <a href="http://www.berkshirehathaway.com/2001ar/2001letter.html">letter</a> to the shareholders from the only other down year) he admits that
<em>During 2008 I did some dumb things in investments. I made at least one major mistake of commission and several lesser ones that also hurt. I will tell you more about these later. Furthermore, I made some errors of omission, sucking my thumb when new facts came in that should have caused me to re-examine my thinking and promptly take action.</em>
A few positive excerpts include
<em>
Amid this bad news, however, never forget that our country has faced far worse travails in the past. In the 20th Century alone, we dealt with two great wars (one of which we initially appeared to be losing); a dozen or so panics and recessions; virulent inflation that led to a 211⁄2% prime rate in 1980; and the Great Depression of the 1930s, when unemployment ranged between 15% and 25% for many years. America has had no shortage of challenges.
Without fail, however, we’ve overcome them. In the face of those obstacles – and many others – thereal standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. America’s best days lie ahead.</em> tag:metafilter.com,2009:site.79596Sun, 01 Mar 2009 15:01:39 -0800jourman2The Oracle of Omahahttp://www.metafilter.com/40856/The%2DOracle%2Dof%2DOmaha
<a href="http://www.berkshirehathaway.com/letters/letters.html">Warren Buffett's letters to the shareholders of Berkshire Hathaway</a> make for some entertaining reading and are studied in B schools around the country. The <a href="http://www.berkshirehathaway.com/letters/2004ltr.pdf">2004 letter</a> <small>[<a href="http://www.adobe.com/products/acrobat/readstep2.html">pdf</a>]</small> was <a href="http://money.cnn.com/2004/03/06/pf/buffett_letter/?cnn=yes">recently</a> <a href="http://www.insurancejournal.com/news/national/2005/03/08/52382.htm">released</a>. tag:metafilter.com,2005:site.40856Thu, 31 Mar 2005 08:33:35 -0800ChasFileWarren Buffett's Annual Letterhttp://www.metafilter.com/31650/Warren%2DBuffetts%2DAnnual%2DLetter
<a href="http://www.berkshirehathaway.com/letters/2003.html">Warren Buffett's annual letter</a> to his shareholders is worth a read. tag:metafilter.com,2004:site.31650Mon, 08 Mar 2004 13:02:56 -0800BlueTrain